Operating Income to EBIT

Operating Income equals EBIT only when there are no non-operating items between OpInc and pre-tax income. Once a company reports interest income, FX, equity-method earnings, or gains on sale separately, EBIT equals OpInc plus those net items^{[SEC Non-GAAP]}.

The middle bridge

Operating Income
+ Interest income (non-operating)
+ Equity-method earnings
+ FX gains (or - FX losses)
+ Gains on sale of investments
= EBIT

FX gains, gains on sale, equity-method

FX remeasurement gains and losses flow through "Other income/(expense), net" and are technically non-operating. Equity-method earnings from minority stakes in associates are also non-operating. Most analysts include both in EBIT for comparability, but flag the inclusion when the equity-method line is material (think Apple's historical Beats stake or Berkshire's Kraft Heinz line).

"Income from operations" labelling

Companies use "Income from operations", "Operating Income", "Operating profit", and "Profit from operations" interchangeably. FASB ASC does not mandate a single label. The figure is what matters^{[FASB ASC]}.

See Microsoft FY25 and Tesla FY25 for opposite-end worked examples.